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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Schneider Electric SE    SU   FR0000121972

SCHNEIDER ELECTRIC SE

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Schneider Electric : ups 2020 revenue forecast as third quarter returns to growth

10/22/2020 | 03:19am EST
The logo of Schneider Electrics is pictured at the company's headquarters in Rueil-Malmaison near Paris

(Reuters) - French electrical equipment group Schneider Electric SE raised its 2020 revenue and margin forecasts on Thursday, citing a better-than-expected third quarter helped by pent-up demand and distributors restocking.

Schneider, whose products range from electrical car chargers to industrial robotics, now expects revenue to fall 5%-7% this year, compared with a slide of 7%-10% it forecast in July, lifting it above a company-provided analysts' consensus forecast.

The company also upgraded its full-year core profit margin target to 15.1%-15.4% from 14.5%-15.0% previously, and confirmed its aim to increase this to around 17% by 2022.

Schneider's quarterly revenue has risen for the first time this year, compared with 2019, helped by its energy management division - which serves buildings, data centres and infrastructure, and posted growth across all its regions.

In a call with Reuters, finance chief Hilary Maxson also pointed to an acceleration in its residential business, which covers areas such as home security and automation, probably driven by work-from-home and consumer spending trends.

She also noted activities restarting in industrial and commercial buildings.

Schneider's third-quarter revenue stood at 6.46 billion euros ($7.65 billion), up 1.3% year-on-year and beating a company-provided consensus of 6.03 billion.

"The crisis has reinforced our customer's agenda for sustainability and digitisation, both areas where Schneider has focused its strategy," Chief Executive Officer Jean-Pascal Tricoire said in a statement.

Maxson noted a big uptick in Schneider's digital services, which are mostly oriented around efficiency, as well as a big opportunity in infrastructure to support a massive electrification of vehicles.

While the company flagged uncertainty for the coming quarter as COVID-19 cases resurge, Schneider believes the second quarter represented the trough in its sales.

(Reporting by Sarah Morland in Gdansk; editing by Uttaresh.V and Mark Potter)


© Reuters 2020
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Financials
Sales 2020 24 987 M 30 342 M 30 342 M
Net income 2020 2 080 M 2 526 M 2 526 M
Net Debt 2020 4 821 M 5 854 M 5 854 M
P/E ratio 2020 29,6x
Yield 2020 2,28%
Capitalization 60 658 M 73 703 M 73 656 M
EV / Sales 2020 2,62x
EV / Sales 2021 2,41x
Nbr of Employees 135 000
Free-Float 92,7%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 116,84 €
Last Close Price 113,30 €
Spread / Highest target 21,6%
Spread / Average Target 3,13%
Spread / Lowest Target -25,0%
EPS Revisions
Managers
NameTitle
Jean-Pascal Tricoire Chairman & Chief Executive Officer
Hilary Maxson Chief Financial Officer
Hervé Coureil Executive Vice President-Information Systems
Premraj Krishnakutty Vice President-Research & Development
Willy R. Kissling Director
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